Most China Stocks Rise as Technology Shares Gain; Gemdale Drops

Most Chinese stocks rose, led by technology and telecommunication companies. A gauge of property developers dropped for a fifth day, the longest stretch of losses since February.

Most China

GoerTek Inc., a supplier of Apple Inc., had the biggest gain in two weeks. Fiberhome Telecommunication Technologies Co. climbed 2.9 percent. Inner Mongolian Baotou Steel Union Co. rebounded from its lowest level in three years after getting regulatory approval to buy assets from its parent. Poly Real Estate Group Co. and Gemdale Corp. slumped at least 1.4 percent.

The Shanghai Composite Index added less than 0.1 percent to 2,028.04 at the close, capping a four-day, 1.2 percent advance. The gauge slumped to its lowest level in a month last week on concern economic growth is slowing and new share sales will divert funds from existing equities.

Trading volumes in the Shanghai index were 29 percent below the 30-day average, according to data compiled by Bloomberg. Markets in Hong Kong were closed today.

The CSI 300 Index climbed less than 0.1 percent to 2,157.33. The ChiNext index of smaller companies added 1.1 percent. The Shanghai Composite is valued at 7.5 times 12-month projected earnings, compared with the five-year average multiple of 12, Bloomberg data show.